Russian Prime Minister Dmitry Medvedev said the Russian economy is looking better than one year ago but must prepare for the worst-case scenario as it continues to suffer from low oil prices and the impact of Western sanctions.
Speaking Wednesday in Moscow at the annual Gaidar Forum on economics, Medvedev noted 2015 was probably the most difficult year for Russia economically in the past decade. “The piling of the problems of this year resulted in the contraction in the volume of production and reduction in business and entrepreneurial activity,” he said.
Russia’s economy contracted 3.8 percent last year as oil, its major …read more
Source: Voice of America
